Touted as one of the most remarkable value additions to the current product spectrum encompassing the pressure sensitive adhesives market the latest water-based acrylic adhesive developed by Dow Adhesives, the material science division of the leading pressure sensitive adhesives industry giant DowDuPont Inc, is deemed to generate a substantial momentum in the overall business landscape. Reportedly, the Labelexpo Europe 2017 witnessed the launch of new acrylic-based portfolio of adhesives Robond Invisu PS-7910, said to have been designed for self-adhesive label stock manufacturers who have been aiming at making a mark in the rapidly progressing film-based labels market. The latest adhesive is claimed to possess enhanced cohesive strength and efficient conversion capacity at all stages of the labeling chain. In consequence, this has enabled the adhesives of the Robond Invisu PS-7910 range to remain stable in all environmental conditions- something which has caught the attention of the prominent stakeholders of the polymers and advanced materials industry. In fact, industry experts have opined that the latest range of adhesives is deemed to garner widescale popularity and is likely to remarkably influence the overall PSA market dynamics.
U.S. Pressure Sensitive Adhesives Market Size, by Product, 2013 – 2024 (USD Million)
In the current era, labels have acquired immense significance across a wide range of end-user domains along the likes of packaging, food & beverages, automotive & transportation, electronics & laminates, building & construction, and medical & healthcare. A brief overview of the rising significance of the global pressure sensitive adhesives industry across diverse end-user verticals is enlisted below:
The criticality of pressure sensitive adhesives in the packaging sector
Although regarded as negligent components in the entire manufacturing process, adhesives have gradually acquired a crucial role in ensuring the product packaging remains unscathed till it reaches the customer. Undoubtedly, the packaging sector now requires a reliable range of pressure sensitive adhesives to fulfill the increasingly complex packaging demands being faced by them. Considering the challenges of the packaging sector, numerous pressure sensitive adhesives market players have been focusing on developing less visible adhesives that are more discrete than conventional tapes and safer than glue sticks. Furthermore, these newly released adhesives would assist in preserving the brand image of various manufacturers in the packaging domain, which would eventually boost the growth prospects of the pressure sensitive adhesives industry in the ensuing years.
Moreover, the growing need to provide accurate information pertaining to the ingredients, health risks, warnings, and several other guidelines on the products has compelled the major PSA market participants to come up with new adhesives that would optimize packaging line operations. As amply evidenced from reliable estimates, the overall packaging segment of the pressure sensitive adhesives industry is likely to command close to 30 percent of the total market share and would register a CAGR of about 6 percent over the period of 2017-2024.
The rising contribution of pressure sensitive adhesives market stakeholders in medical and healthcare sector
In a bid to harmonize and streamline the approaches utilized to mark, identify, and package medical devices across the global medical and healthcare vertical, new adhesives have been gaining massive acceptance. The foremost pressure sensitive adhesives market participants have set their sights on improving the existing product base so that these adhesives can be easily printed and utilized to label and package diverse set of medical devices.
To cite an instance of the efforts being deployed by pressure sensitive adhesives industry players, UPM Raflatac has recently launched Raflatac Permanent Medical Device (RPMD) pressure sensitive adhesive label stock materials for labeling medical devices. As per reports, the new adhesive could be predominantly used to label infusion bags and bottles, sterilization wraps and bags, drug-device combinations like inhalers, pens, and auto-injectors. Needless to mention, such advanced products would undeniably transform the medical and healthcare segment. In fact, as per the recently collated report of Global Market Insights, Inc., medical & healthcare segment of the pressure sensitive adhesives market is said to exhibit a y-o-y growth rate of over 5% in the forecast timeframe.
Meanwhile, it would be prudent to take note of the factors that might act as barriers in the pressure sensitive adhesives industry share augmentation. Apparently, the rising prices of raw materials including acrylate monomers, natural and synthetic rubber, inorganic and organic chemicals utilized to manufacture pressure sensitive adhesive tapes might restrain the growth of this business space. However, with an escalating demand for pressure sensitive adhesives across a host of end-user verticals coupled with a stringent regulatory framework in place, pressure sensitive adhesives market is estimated to surpass an impressive valuation of USD 11 billion by 2024.